The New York Times published this mind-boggling graph (click on the graph to enlarge it) that delves into the spending habits of Americans at different income levels. A striking observation is that, according to this graph, people in the lowest fifth are spending about twice as much as they earn. The article points out that "if we compare the incomes of the top and bottom fifths, we see a ratio of 15 to 1 and if we turn to consumption, the gap declines to around 4 to 1." What observations can you make from the graph?
Latest Smart Living